24 January 2011

ENI commits SEK1.5m to Obducat’s convertible debenture loan issue

As part of its ongoing convertible debenture loan issue (announced on 30 November), Obducat AB of Malmö, Sweden, which supplies systems based on nano-imprint lithography (NIL) and electron-beam lithography, has received a binding subscription, equivalent to SEK1.5m (€167,000, or $227,000), from Malmö-based venture capital firm European Nano Invest AB (ENI).

Also, discussions are ongoing regarding financing that will enable ENI to make a further subscription of SEK3.5m, raising its total contributed to SEK5m (€557,000, or $757,000).

Previously (in mid-December), Obducat entered a financing agreement with YA Global Master SPV Ltd (Yorkville) under which it, on several occasions during a 48-month period, may issue new class B shares to Yorkville up to an aggregate of SEK30m (€3.3m, or $4.46m).

Obducat says that in fourth-quarter 2010 its order intake rose to SEK20m. The preliminary order backlog at year-end was SEK23m, not including the conditioned purchase order received in September from an LED maker (concerning an NIL production system valued at SEK8m).

The firm says that orders for NIL systems have been received from customers including France’s micro- and nanotechnology research institute CEA-LETI and Fudan University in Shanghai, China. During the last six months, orders for NIL-systems were also been received from the Lippmann Institute in Luxemburg as well as from a US-based firm that previously used Obducat equipment at a university in the US. The customer aims to produce test components for use in field tests in connection with dialysis treatment, with plans to start volume production later this year.

Work on closing orders was intensified in second-half 2010, and is now beginning to show results. The firm says that it has made changes in the way it works with customers and it expects this to create the opportunity to maintain the positive trend of fourth-quarter 2010 throughout 2011.

See related items:

Obducat secures equity financing facility

Tags: Obducat Lithography

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Visit: www.eni.se

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